Creative solution for Computershare Limited
Due to a significant transformation of the business, Computershare’s existing facility at West End, Brisbane had a considerable amount of underutilised space at a high rental due to its close proximity to the CBD. It was also in need of significant refurbishment to suit changing business demands. The site was also designated for redevelopment, therefore eliminating the possibility of a lease renewal at a more compelling rental.
Computershare’s main objectives:
- Reducing the total amount of leased space
- Relocation to a more efficient and lower cost facility in line with business objectives
The Pepper Property Solution
The strategy involved splitting the existing facility into two locations. That meant engaging the CBD office and suburban industrial markets, negotiating the commercial outcomes and completing all of the formal documentation. Early market engagement allowed us to consider all aspects required and to run technical due diligence on over 10 warehouses across four different industrial suburbs
In addition to securing preferred premises and negotiating commercial terms, we also provided full project advisory services including technical due diligence and managing the construction of the new production facility.
- Computershare halved their overall footprint, considerably reducing rental costs while gaining substantial competences from a new 2,390sqm purpose built warehouse production facility and 200sqm office workplace in the CBD
- We successfully negotiated with a CBD landlord to build a brand new office fitout at zero cost to Computershare
- Staff considerably reduced their travel time to client meetings from the CBD office and are able to take full advantage of the shared conference and meeting facilities offered by the landlord at zero cost to Computershare
- They also gained significant efficiencies from a contemporary new production facility and appropriate flexibility for the business moving forward